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Jan 15, 2013 6:00pm PST
. someone get me a latte will ya, please? >>> time to talk taxes with passage of proposition 30 more californians pay the highest state income tax in the nation. will the latest bump push them out? we bring in larry gerston and there's a lot of money at stake here. >> we need wealthy people here. that's for sure. here's why, jessica. before proposition 30 passed, the wealthiest 1% of californians paid 40% of all state income taxes or about $20 billion annually. that's particularly important because the income tax itself accounts for more than 60% of the state general fund. and the proportion paid by the wealthy will be even higher once proposition 30 kicks in. >> it's not really realistic to think that rich people will up and leave the state. >> there are no indication of wealthy flight that's for sure. it's just the opposite. according to public policy institute of california, the ones that leave every year have low incomes, little education and higher unemployment rates more so than the state as a holhol whole. even after voters pass the millionaires tax in 2004, the state still ma
Jan 18, 2013 6:00pm PST
. >> for decades we've been told don't tax the upper class because the less tax they have, the better it is for the middle class. true or false? >> false. the idea of the job creators belies -- the truth about the economy is the vast middle class, everybody is aspiring to join the middle class, they are the job creators because their spending creates jobs. >> we've been sold on this for years. >> i don't know why they've been sold on this. trickle-down economics, the idea if you give more tax breaks to people at the top and companies at the top, you're going to create jobs, has been proven over and over again to be false. >> some amazing insight. what's next for robert reich? he says if the president asks, he would go back to washington. as for now he loves teaching at cal and just released his latest book called "beyond outraged. "you can find the segment on interview. >>> new details in the hostage standoff in algeria. the u.s. confirms one american worker at the natural gas complex is dead. the plant is located in northern africa in the sahara desert about 800 mi
Search Results 0 to 1 of about 2